Property Purchasein Thailand

Property Purchase in Thailand

Many foreigners are interested in acquiring property in Thailand. The leasing or purchasing land, a house, a villa or a condominium unit are some options available.
As a foreign buyer, it is essential to be familiar with and comply with the Thai laws relating to property acquisition. That is why we recommend consulting with a property specialist. At Juslaws & Consult we have property experts that can handle all types of property acquisitions, from condominiums to commercial buildings.

As mentioned previously, generally, foreigners may own condominiums outright, 100% freehold, but at the same time there are Condominium development quotas for foreign ownership that must be respected.There are also, origin of fund stipulations as well as certain fees associated with condo ownership. So, although, at face value, the purchase of a condo may appear less complicated than another property, it’s best that a property expert, examine your proposed property, performing a due diligence and review the paperwork, in order to avoid any surprises. Juslaws & Consult has been providing such services to foreigners for many years.

Foreigners may also choose to lease out premises for the maximum period permissible by law of 30 years. Generally, there is an extension of the lease permissible for a period of up to 90 years, however, the land department is usually reluctant to register such a lease, and this is also upon the discretion of the land and house owner. Lease options give a legal right to reside and possess a house with an option to sub-lease should the land-owner permit. Leases are not transferable however they are inheritable if it is agreed upon by the parties and stipulated in the contract.

In order to secure your investment, our team expert in real estate in Thailand would be pleased to provide you the following legal assistance:

Due diligence on a property to ensure that all aspect regarding your purchase transaction will be made in compliance with Thai Law and procedures.

Revision of clauses in the contracts covering your rights and to ensure your best interest

Registration of a conveyance to ensure that legal acquisition of property is fulfilled

Whether purchasing a condominium, villa or a house, it is suggested that prior to making such a purchase, once you have found something of interest, to contact a lawyer or solicitorto perform due diligence. At Jus Laws & Consult we offer specialized property services to assist with foreign acquisition of property. Contact us at our Bangkok or Phuket office to learn more.